11 months ago
Indian Drugmakers Eye Insulin Market Share as Novo Nordisk Exits
Novo Nordisk, a big company that makes insulin pens, is stopping production of their disposable pens in India.
This creates a big opportunity for other Indian drug companies.
Companies like Eris Lifesciences and Wockhardt are preparing to take over this market by making their own insulin pens.
The market is worth a lot of money.
Novo is doing this to focus on different medicines.
While the pens are going away, some insulin in vials will still be available.
The price of insulin is unlikely to change a lot, but profits may be impacted.
Novo Nordisk wants to help people find alternative ways to get their insulin.
Novo Nordisk is discontinuing its disposable insulin pens in India, creating a market opportunity.
The market opportunity is estimated to be worth Rs 600-800 crore.
Eris Lifesciences is planning to launch pen-fills in November/December after its Bhopal facility is commissioned.
Wockhardt aims to expand its manufacturing capacity for human insulin pens.
Insulin prices are unlikely to change substantially, despite new competition.
- Who
- Eris Lifesciences, Wockhardt, and other Indian drugmakers
- What
- Are preparing to capture market share from Novo Nordisk's exit from the human insulin pen market.
- Where
- The Indian human insulin market and other emerging markets.
- When
- Novo Nordisk is discontinuing its disposable insulin pens by the end of 2024. Eris plans to launch in November/December.
- Why
- Novo Nordisk is shifting focus to semaglutide and other GLP-1 analogs.
Key facts
- Companies Affected
- Novo Nordisk, Eris Lifesciences, Wockhardt, Lupin, MJ Biopharm
- Market Opportunity
- Rs 600-800 crore in India; $157 million in emerging markets
- Novo's Products
- Discontinuing disposable insulin pens (Penfill, FlexPen); Mixtard, Actrapid, Insulatard (vials) remain available
- Eris Lifesciences' Plan
- Launch pen-fills in November/December 2024 after Bhopal facility commission
- Wockhardt's Plan
- Expand insulin pen manufacturing capacity two- to threefold over 24-36 months
- Price Impact
- Prices unlikely to change materially due to price caps, but net realisations may moderate by 15% from FY26
Quotes
Murtaza Khorakiwala
Managing director of Wockhardt
“Novo Nordisk, which is the largest insulin company in the world, has decided to discontinue its disposable insulin pens and cartridges, so that they can have a larger focus on semaglutide and other GLP-1 analogs, where their capacity is not able to meet the demand”
rediff.com
“The equivalent market in India is about Rs 450 crore and in emerging markets is another $157 million”
rediff.com
An executive for Eris Lifesciences
An unnamed executive speaking on the market opportunity.
“So this market opportunity is something that one can start monetising”
rediff.com
Nirali Shah
A pharma analyst at Ashika group
“MRPs [maximum retail prices] are unlikely to correct materially but we estimate a 15 per cent moderation in net realisations as incremental capacity comes on stream from late FY26”
rediff.com
Novo Nordisk
The company
“Ensuring continued access to effective diabetes care remains a top priority”
rediff.com
